With high mobile penetration rates and a large unbanked population, Vietnam is prime to leapfrog physical banking infrastructures and directly enter a digital money era, with blockchain technology as a major driver of its digital transformation and enabling faster and more transparent financial transactions. According to Vietnam Briefing, Vietnam accounted for 36% of total investment in Southeast Asia in 2019.Electronic payment is a priority of Vietnam’s fintech development, as 60.5% of Vietnamese fintech startups act as payment intermediaries. Vietnam’s fintech industry has seen promising development in recent years. Vietnam is also a favorable destination for international capital, as its foreign direct investment (FDI) experienced a decade of consecutive growth, indicating an increasing stable and open economy. In 2019, Vietnam achieved GDP growth at 7%, the highest among Southeast Asian countries. This is why we are excited to bring the second Binance Blockchain Week to Vietnam this year.Īs one of the most dynamic emerging markets in Asia, Vietnam has shown remarkable economic growth in recent years amid the global slowdown. Vietnam has one of the most active crypto communities in the world, and we believe that the country is the next key market for crypto adoption and blockchain technology development. In 2019, we hosted six Binance meetups across Vietnam, and were amazed by the local community’s enthusiasm for cryptocurrency.
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